Xceleron, a provider of analytical strategies for drug development, will expand its U.S. business by signing of a lease on a facility in Germantown, MD. The facility, opening in November 2007, will house a new accelerator mass spectrometer (AMS) and employ at least 20 people in scientific, commercial and administrative roles.
Professor Colin Garner, Xceleron's chief executive officer, commented, "This is a major strategic development in the evolution of our company. We will invest as much as $7.5 million on the purchase of a new AMS and associated equipment to carry out analysis on pharmaceutical drug candidates. Our new facility will allow us to substantially increase our development capacity to better serve our customers worldwide." The company began U.S. operations in 2005.
Schering-Plough
2Q Revenues: $3.2 billion (+13%)
2Q Earnings: $539 million (+108%)
YTD Revenues: $6.2 billion (+15%)
YTD Earnings: $1.1 billion (+75%)
Comments: SP's Remicade sales were up 28% to $394 million. Nasonex sales grew 22% to $295 million. Combined Vytorin/Zetia sales were $1.3 billion (shared with Merck). R&D expenses rose $160 million to $696 million, including a $60 million upfront payment for a licensing deal with Novacea.
Merck
2Q Revenues: $6.1 billion (+12%)
2Q Earnings: $1.7 billion (+6%)
YTD Revenues: $11.9 billion (+6%)
YTD Earnings: $3.4 billion (+12%)
Comments: Led by Gardasil, vaccine sales reached $1.0 billion in 2Q, up from $349 million. Singular sales rose 15% to $1.1 billion. Combined Vytorin/Zetia sales were $1.3 billion. R&D costs dropped 12% to $1.0 billion for the quarter. Higher costs in 2Q2006 reflected R&D costs from the GlycoFi acquisition. FY2007 restructuring costs are projected to reach $500-$700 million.
Magazine
